Irani Group invests NIS 22 million in the new Factory 54 flagship store

The Iranian fashion group has invested NIS 22 million in the opening of a new flagship store Factory 54 in the Big Complex in Beersheba. This store aims to serve the residents of southern Israel, especially those who want to purchase the group’s high-end brands, which are typically found in the central region.

The Beersheba store will span 2,250 square meters and will showcase all of the company’s international brands, including Dolce & Gabbana, Michael Kors, Ralph Lauren, Lacoste and Boss, among others. Prices for these brands range in the thousands of shekels and higher, targeting a luxury market segment.

Beersheba’s flagship store joins other Factory 54 locations in strategic shopping areas throughout Israel, including Tel Aviv Port. The group also has a store in Eilat, where it plans to expand its activities. Last year, the group opened a store in the port of Jaffa, offering deep discounts on items from previous collections.

The group also operates a store in the duty-free area at Ben Gurion Airport, where turnover per square meter is particularly high. Like many other fashion groups, Factory 54 – owned by Roni Irani and his family – was hit by the sharp decline in tourism, which impacted overall sales. However, Israelis who travel abroad less have shifted their shopping focus back to the local market.